The Kingdom of Saudi Arabia (KSA) has retained its position as the first trading partner of Dubai among GCC states, as well as the Arab countries and the Middle East, and has been the fourth trading partner of Dubai on the global level through the first nine months of 2015.

Dubai's non-oil trade with the KSA was worth AED 44.65 billion, with a 12% increase from AED 40 billion scored during the same period of 2014. The significant growth came as part of the excellent ties that bind the leaderships and peoples of the UAE and the KSA.

According to the latest statistics released by Dubai Customs (DC), the total value of Dubai’s trade with the GCC states recorded AED 96.19 billion in the first nine months of 2015, with an 8% rise compared to the same period of 2014. The KSA’s share of Dubai-GCC trade was 46.4%, followed by Oman, with a value of AED 18 billion, representing 18.7%. Kuwait came third with a value of AED 14.87 billion, representing 15.4%, then Qatar with a value of AED 11.91 billion, representing 12.3%, and finally Bahrain with a value of AED 6.75 billion, representing 7%.

"The United Arab Emirates – under the leadership of President H.H. Sheikh Khalifa bin Zayed Al Nahyan, and his brother, H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai – has strong, well-established relations in all fields with Saudi Arabia, under the leadership of their brother, the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud,” Sultan Ahmed bin Sulayem, Chairman of Ports, Customs and Free Zone Corporation in Dubai said.

He added that such relations were “steeped in history and reinforced by ties of kinship and common destiny and are evolving every day in absolute harmony at all levels.”

Bin Sulayem further emphasised that the relationship between the UAE and the KSA offered a clear example of correlation that should be copied by the Arab Nation, in order to develop its potentials and strengthen its structure. “The positive bilateral relations between the UAE and the KSA, as brightly manifested in close and growing economic and commercial ties, are meant to continue, evolve, and reach wider horizons. Both countries are constantly seeking to build and support the concept of mutual interests and fruitful cooperation towards more cohesion and integration, in such a way that meets the aspirations of the their respective peoples.”

Thanks to these solid and unwavering mutual relations, Dubai's non-oil trade with Saudi Arabia jumped up 61% between 2010 and 2014, rising to AED 51.7 billion in 2014 as against AED 32.2 billion in 2010, he added.

“During these five years, Saudi Arabia maintained its status as Dubai’s top trading  partner within the Arab world. It also moved up to be the 4th trading partner of Dubai globally during 2013 and 2014, after occupying the sixth place in 2012. This progression owes much to the top-notch customs facilitations and services and trader-friendly environment being offered and sustained by Dubai Customs, particularly in business areas of common and growing cooperation,” Bin Sulayem said.

 

 

 

Ahmed Mahboob Musabih, Director of Dubai Customs, said that the joint work within the framework of the GCC Customs Union, under the wise leadership of their Majesties and Highnesses the leaders of the GCC member-states, had contributed effectively in the promotion of Dubai-GCC trade, due to the emirate's ability to meet the business requirements of the Gulf countries through providing them with distinguished, facilitated customs services, and the advanced services offered by Dubai’s ports and free zones.

Meanwhile, trade exchange between Dubai and the GCC states: Kingdom of Saudi Arabia, Sultanate of Oman, Kuwait, Qatar and Bahrain, reached AED 96.19 billion from January to September of 2015.

Dubai’s non-oil AED 44.65 billion trade with Saudi Arabia through to the 3rd quarter of 2015 was made up of AED 5 billion of imports, AED 6 billion of exports, and AED 33.49 billion of re-exports.

As for Dubai's non-oil trade with the Sultanate of Oman for the same period, which has amounted to AED 18 billion, it consisted of AED 3.23 billion worth of imports, AED 6.92 billion worth of exports, and AED 7.88 billion worth of re-exports.

For the same period, Dubai’s non-oil foreign trade with Kuwait totalled AED 14.87 billion, representing AED 2.72 billion of imports, AED 3.35 billion of exports, and AED 8.79 billion of re-exports. On the other hand, Dubai's trade with Qatar added up to AED 11.91 billion that is made up of AED 1.58 billion imports, AED 2.21 billion exports, and AED 8.12 billion re-exports. Finally, Dubai’s trade with Bahrain, for the same period, scored AED 6.75 billion; including imports worth AED 1.61 billion, exports worth AED 2.4 billion, and re-exports at AED 2.74 billion.

The Director of Dubai Customs said: "The UAE and Dubai are historically and strategically linked with the neighbouring Arab Gulf states since ancient times. These relations have been strengthened by the establishment of the Gulf Cooperation Council in 1981. There is no doubt that Dubai Customs is keen on supporting the council by providing sophisticated, intelligent customs services to traders and investors from within the GCC states and all countries of the world, in order to promote the added value they earn from their choice of Dubai as a destination for their business operations. DC also reduces the time, effort, and cost to enable dealers to boost the financial revenues of their investments and trade through Dubai, and in order to contribute effectively to the achievement of UAE 2021 vision and Dubai 2021 Plan in all its aspects , especially in the field of economic development and the protection of society, as part of its commitment to be the leading customs administration in the world supporting legitimate trade, and to achieve its mission of protecting society and upholding economic development through facilitation and compliance.”

 

 

 

He further stressed that “The GCC Customs Union, founded in 2003, has actively contributed to the growth of trade among the Gulf states, causing Dubai's non-oil trade with the GCC states during the first nine months of 2015 to grow by 8%; reaching AED 96.19 billion, a figure that counts for 10% of the total value of Dubai's foreign trade with all countries of the world for the same period; which stands at AED 966 billion." He also projected that the second phase of direct automatic transfer of customs duties among the GCC states - which has already come into force last October, based on a purely Emirati initiative within the context of the Smart Government Initiative - would contribute to the promotion of trade growth among the GCC states in the upcoming period.

He pointed out that DC was keen on implementing all trade and customs agreements concluded between the GCC and the different countries and economic blocs of the world, and implementing bilateral and international commitments that ensued trade and customs agreements signed by the GCC, based on the vision of H.H. Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President, Prime Minister, Ruler of Dubai,  that stressed the need to work on the development of trade with the GCC; first and foremost Saudi Arabia, to deepen fraternal interdependence among the brotherly states in all economic fields, especially trade.

Ahmed Mahboob Musabih further noted that “Dubai Customs pays a great attention to strengthen our relations with Dubai's trading partners to ensure they have the best customs facilities, which achieve real added value to their commercial sectors, as the re-export of Dubai's non-oil trade with the GCC has recorded a growth by 7.5%, rising to AED 61 billion by the end of the first nine months of 2015, compared to AED 56.83 billion for the same period of 2014.”

Dubai Customs Director further stressed that DC was working to keep up with the evolution of Dubai's foreign trade by constantly developing the customs services and facilities and devoting efforts to improve the quality of services provided to customers and dealers from all business sectors, through the latest innovations developed internally at DC. He added that DC was also engaging customers in the services offered to them through multiple communication channels; including the " Dubai Customs Consultative Council," and the "Irtibat" initiative, through which meetings were held with foreign companies in the presence of diplomatic, consular, and trade missions representing their countries, in order to increase trade exchange, as well as meetings with traders in all commercial sectors.

 “Such meetings helped identify the level of customers satisfaction and their feedback and ideas for the developmental of work; one of the factors utilized to improve the customs services,” he said.